With plenty of natural resources and a key geographical location, there’s little doubt Australia will play an important role in the global transition to green energy.
The country is a top producer of key raw materials needed for electrification, from lithium to rare earths.
Here the Investing News Network (INN) explores Australia’s electric vehicle (EV) raw materials landscape and what could be ahead for the country in a space that keeps evolving at a rapid pace.
Australia’s resources to feed the EV and energy storage revolution
Australia is well known for its resource-rich land, with mining taking place all around the country.
“Australia is a politically stable and low-risk jurisdiction which is very familiar with mining,” Harry Fisher of CRU Group told INN. “There is a high level of domestic mining expertise, enabling Australia to produce a large number of commodities and be a major producer in numerous different markets.”
The mining industry accounts for 75 percent of the country’s exports, which vary from coal to iron ore. And despite being a top producer of many commodities, close to 80 percent of the country is yet to be explored.
When looking at demand from the EV and energy storage industries, Australia has a unique opportunity, as it hosts many of the critical minerals needed.
But it’s not just about resources — developing secure supply chains for raw materials has become a top priority for global governments, and the push for a green future has put EVs centre...
Read Full Story: https://investingnews.com/daily/resource-investing/battery-metals-investing/cobalt-investing/australias-electric-vehicle-raw-materials-landscape/
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